As the grab-and-go style of convenience stores has changed a bit during the past couple years, experts note that convenience stores still continue to perform well despite ever-changing needs of consumers.
Initiative includes $4M to support brands owned by members of historically underrepresented groups
August 17, 2022
Drizly, an Uber Company and a leading beverage alcohol eCommerce shop, announced its Sip with Purpose initiative, a new program dedicated to supporting and driving growth of brands owned by members of historically underrepresented groups in the beverage alcohol industry. This initiative includes a $4 million media commitment to raise awareness and support these brands, as well as the launch of Drizly’s Brand Accelerator Program.
Research highlights opportunities for brand growth
August 5, 2022
New research from Chicago-based IRI, which recently merged with The NPD Group, reveals elevated at-home beverage alcohol consumption is here to stay. Despite high inflation concerns, retail price increases for beverage alcohol remain more moderate than other CPG categories. IRI’s 2022 Midyear Alcohol Update highlights that many consumers are opting to celebrate and socialize at home.
With the pandemic, as the eCommerce market hit its stride and many consumers turned to direct-to-consumer (DTC) brands, experts note that the beverage industry stands to benefit from DTC’s continuous growth.
Company debuts new dispenser model at 2022 National Restaurant Association Show
May 17, 2022
The Coca-Cola Co., Atlanta, announced the launch of Coca-Cola Freestyle 8100, a new back-of-house dispenser developed specifically for the crew-serve occasion. The new dispenser’s advanced technology streamlines drink pouring for foodservice crews, helping reduce drive-thru wait times for diners while providing the beverage quality and variety they crave, according to the company.
Consumers in the United States are opting to spend more on their drinks in bars and restaurants as premiumization drives the recovery of the on-premise channel after COVID-19. A trend that was paused during the pandemic now is accelerating again, CGA’s exclusive On Premise Measurement (OPM) service shows. The premium price tier of the spirits market took a 40% share of sales by value in February 2022, while super-premium took 18%.
One of the most harshly impacted industries in the early days of the pandemic, on-premise has shown its ability to pivot. Data suggests that the channel has recovered from its early pain points with analysts predicting growth for on-premise.